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A BILL TO BE ENTITLED
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AN ACT
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relating to requiring certain risk pools to conduct own risk and |
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solvency assessments. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 830.002(3), Insurance Code, is amended |
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to read as follows: |
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(3) "Insurer" means: |
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(A) an insurer, as that term is defined [has the
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meaning assigned] by Section 823.002(6); or |
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(B) a risk pool created under Chapter 172, Local |
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Government Code. |
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SECTION 2. Section 830.006, Insurance Code, is amended by |
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adding Subsection (a-1) to read as follows: |
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(a-1) Notwithstanding Subsection (a), a risk pool created |
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under Chapter 172, Local Government Code, is subject to the |
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requirements of this chapter regardless of the amount of annual |
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direct written and unaffiliated assumed premium the risk pool has. |
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SECTION 3. Section 172.014, Local Government Code, is |
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amended to read as follows: |
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Sec. 172.014. APPLICATION OF CERTAIN LAWS. (a) A risk |
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pool created under this chapter is not insurance or an insurer under |
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the Insurance Code and other laws of this state, and, except as |
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provided by Subsection (b), the commissioner of insurance and Texas |
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Department of Insurance do [the State Board of Insurance does] not |
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have jurisdiction over a pool created under this chapter. |
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(b) A risk pool created under this chapter is subject to |
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Chapter 830, Insurance Code. |
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SECTION 4. This Act takes effect September 1, 2019. |